Senior Congress leader and former Union Minister Anand Sharma on Saturday said the so-called master stroke of demonetisation by Prime Minister Narendra Modi was a cover for one of the biggest scams in history.
At a press conference here, he said the Bhartiya Janata Party, which was deploying massive resources in the ongoing Assembly elections in five States, showed that there was sufficient money already with the party cadres during the demonetisation move, and the people close to the BJP did not suffer any heat of the Prime Minister’s abrupt decision. It was the common man and the country’s economy that had suffered the most, he added.
Mr. Sharma said the government was not coming out with the exact figures of the money recovered and deposited in the banks. He said it could have been more than 98% of the currency in circulation. All un-banked money could not be named black money. The process of remonetisation was too slow and had not helped anybody, he said while claiming that the entire economy was a shambles. The process might take more than two years to normalise, he warned.
He said investments, credit off-takes and capital formation had nosedived.
